Clearside Biomedical (NASDAQ:CLSD) Trading Down 1.1% – Here’s What Happened

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s stock price traded down 1.1% during trading on Monday . The company traded as low as $0.38 and last traded at $0.40. 571,411 shares were traded during trading, a decline of 96% from the average session volume of 13,169,371 shares. The stock had previously closed at $0.41.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC cut Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $3.00 price target on the stock. in a research note on Thursday, July 17th. Stifel Nicolaus cut Clearside Biomedical from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Friday, July 18th. Chardan Capital cut Clearside Biomedical from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th. HC Wainwright cut Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research note on Friday, July 18th. Finally, Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Hold” and an average target price of $4.20.

Clearside Biomedical Price Performance

The stock has a market cap of $31.64 million, a price-to-earnings ratio of -1.09 and a beta of 2.08. The stock’s 50-day moving average is $0.68 and its 200 day moving average is $0.82.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.06. The firm had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.50 million. Analysts anticipate that Clearside Biomedical, Inc. will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical in the 4th quarter valued at $32,000. Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after acquiring an additional 32,672 shares during the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.